Top official in South Africa's ANC has 'reservations' over Gordhan removal

South Africa's President Zuma Fires Finance Minister Pravin Gordhan, Sparking Backlash

The decision to axe the this minister has been in the pipeline for weeks.

Rumours have been confirmed as finance minister Pravin Gordhan was sacked from his role, along with his deputy minister, Mcebisi Jonas.

The ANC has been the dominant party in South Africa since sweeping to power under Nelson Mandela at the end of apartheid in 1994.

Rumours Zuma was to replace Gordhan have unsettled markets all week and ANC members urged the president to reconsider.

"The government also knows that ratings agencies and investors are watching its next moves closely and it will be interesting to see how the government now responds to investor concerns". Little known Des van Rooyen, who had no financial experience, replaced him.

But South Africa remains one of the world's most unequal societies, riven by glaring income disparities, an official jobless rate of 26.5 percent, and widespread poverty.

Gordhan first served as finance minister between 2009 and 2014.

Gordhan's team on the trip to London, Boston and NY included: deputy finance Minister Mcebisi Jonas and Treasury director general Lungisa Fuzile, as well as business executives and union leaders.

The leader of the DA party, Mmusi Maimane said the party has instituted an urgent legal action at the Western Cape High Court to halt the swearing in of the new ministers set to take place Friday evening.

It's also about "the placement of loyalist, Gupta allies, Malusi Gigaba and Sifiso Buthelezi, both significantly market-negative candidates".

"We hope that more South Africans will make it clear that our country is not for sale", he told his supporters. Manuel heads the Rothchild's banking affiliate in South Africa. State pension investments were hit hard, losing 100 bln rand.

The rand has fallen five per cent against the United States dollar since its highest point before the reshuffle and is set for its biggest weekly decline since December 2015.

Gordhan has been seen as highly competent, having reigned-in spending, tackled corruption, and reduced the budget deficit. This was before the President dropped his cabinet bombshell.

South Africa was granted a reprieve at the end of previous year when rating agencies did not drop it to the "junk" investment category following a series of downgrades, but they warned of the impact of poor growth and political instability.


Mkhize, Deputy President Cyril Ramaphosa and ANC Secretary General Gwede Mantashe reportedly told President Zuma that they did not agree with his intention to fire Gordhan.

"I am very uncomfortable because areas where ministers do not perform have not been touched".

Mkhize though congratulated the new cabinet ministers, and the "introduction of younger generation of leaders to the national executive is well acknowledged".

"I felt like this list has been developed somewhere else and was given to us to legitimize it", Mantashe added, in a comment that will fuel speculation Zuma is being influenced by people outside government. "I will not be distracted by external issues".

Mapaila read a portion of the SACP political bureau statement released after the PB's meeting on Friday calling on Zuma to resign.

The organisers of the march, The Save South Africa Campaign and recently formed South African Federation of Trade Unions, called Zuma's decision "a coup against the people of this country".

He says a need arises for the leadership of the ANC as the ruling party to seriously apply its mind and express a collective view to these developments. But now, he wants him out of office. Similar votes have failed because the ANC has an nearly two-thirds majority.

Apart from the nine ministers who have been affected by the changes Mr Zuma also appointed 10 deputy ministers.

The EFF called it "a last resort", with party leader Julius Malema accusing parliament, which is dominated by the African National Congress (ANC), of failing in its duty to hold the president accountable. "In the longer term, however, it may lead to the downfall of Zuma and his patronage, which will certainly be a good thing for South Africa", said economist Dawie Roodt.

Why does Zuma still have the top job?

Zuma will step down as ANC president later this year.

But trust in the president is now waning. Opposition parties promise a no confidence measures in parliament.

"Whatever has happened doesn't mean we won't be professional", Gordhan said in his farewell press event where many supporters gave him a standing ovation.

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